Bill Summary for H 477 (2023-2024)

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Summary date: 

Apr 18 2023

Bill Information:

View NCGA Bill Details2023-2024 Session
House Bill 477 (Local) Filed Thursday, March 23, 2023
AN ACT TO EXEMPT LEASES OF PROPERTY BY THE HALIFAX-NORTHAMPTON REGIONAL AIRPORT AUTHORITY FROM GENERAL LAWS REGARDING DISPOSAL OF PROPERTY AND TO ALLOW THE AUTHORITY TO ENTER INTO CERTAIN LEASES FOR A TERM OF UP TO FORTY YEARS.
Intro. by Wray.

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Bill summary

House committee substitute to the 2nd edition makes the following changes.  Amends Section 4(a)(12) of SL 1997-275, as amended, to delete provisions allowing the Halifax-Northampton Airport Authority (Authority) to (1) borrow money for use in making and paying for improvements and facilities, secured by and on the credit only of the lease agreements in respect to these improvements and facilities and (2) to pledge and assign the leases and lease agreements as security for the authorized loans.